30 UNIT INDUSTRIAL STORAGE COMPLEX 3545 Recker Hwy

The property comprises 30 units across four concrete buildings, totaling 15,090 square feet on 0.98 acres of mixed-use Commercial/Industrial-zoned land. The site includes three retail units, 25 storage/shop space units of various sizes, a manager’s apartment, and a single-family residence, offering flexibility for both long- and short-term rentals. Strategically located on Recker Highway in Winter Haven, FL, this property features 215 feet of road frontage, a daily traffic count of 17,200 AADT, and 29 parking spaces. Accessibility is further enhanced by two ingress and egress points, improving traffic flow and attractiveness for both tenants and customers.
With current occupancy at 40%, this property presents significant potential for growth through increased occupancy and rental adjustments to market rates. Financial data for 2023 reflects an Effective Gross Income (EGI) of $141,273 at a 6.1% cap rate, with trailing 2024 projections indicating an EGI of $151,773 at a 6.39 % cap rate. Anticipated improvements could potentially increase the cap rate to 11.62% at 100% occupancy, thereby enhancing return on investment.
Located within the expanding Lakeland-Winter Haven MSA—a key logistics hub in Florida with a population of approximately 819,000 and an annual growth rate of 3.24%—this property benefits from excellent access to major transportation routes, including the 570 Toll Road, US Hwy 92, Hwy 27, and Hwy 60. Situated just 12 miles west of Lakeland, it enjoys close proximity to key commercial centers, which further enhances its appeal for prospective tenants.
This property is positioned as a promising, growth-oriented investment. With month-to-month leases currently in place, a new owner has the flexibility to increase occupancy, stabilize rents, and optimize cash flow. This adaptability enables the realization of the property's potential for a higher cap rate and substantial income growth, making it a compelling opportunity in the Lakeland-Winter Haven market.
Property Overview:
30 units spread across four concrete buildings, totaling 15,090 SF on .98 acres of mixed-use Commercial/Industrial-zoned land.
The property includes 3 retail units, 25 storage/shop space units of varying sizes, a manager’s apartment, and a single-family residence, making it flexible for long- and short-term rentals.
Location and Accessibility:
Situated on Reckers Hwy, Winter Haven, FL, with 215 feet of road frontage, a daily traffic count of 17,200 AADT, and 29 parking spaces.
Accessible through two ingress/egress points, enhancing flow and appeal for tenants and customers.
Financial Potential:
Current occupancy is at 40%, signaling significant upside with room to increase occupancy and adjust rents to market rates.
2023 financials show an EGI of $141,273 with a 6.1% cap rate, while trailing 2024 financials project an EGI of $147,271 at a 6.39% cap rate.
Projected improvements could push the cap rate to 11.62%, enhancing returns.
Local Market Context:
-Located in the growing Lakeland-Winter Haven MSA, a logistics hub in Florida with a population of around 819k, growing at 3.24%.
-High accessibility to major routes (570 Toll Road, US Hwy 92, Hwy 27, Hwy 60), and just 12 miles west of Lakeland, providing proximity to key commercial areas and increasing appeal for tenants.
Opportunity: This property is positioned as a growth-oriented investment. With month-to-month leases in place, a new owner has the flexibility to increase occupancy, stabilize rents, and increase cash flow to realize the property's potential for a higher cap rate and significant income growth.